Diageo

Diageo is contending with a growing oversupply of Scotch as global demand has slumped after a pandemic-era boom, prompting expanded storage at Cluny bond and plans to cut hundreds of jobs that have triggered strikes at Cameronbridge. Distilleries across Scotland have paused production to avoid adding to the ‘whisky loch’, while exports have fallen in key markets such as the US and France despite some growth in India. Industry sources say current output may be around a third of normal levels, and many expect a cyclical recovery over the next few years. » More on theguardian.com

Joanne Wilson will move to Diageo during the coming year as the new chief financial officer, replacing Nik Jhangiani, who will remain in post until the handover. Wilson is currently CFO at WPP; WPP has launched a search for her successor. She brings leadership experience from Britvic, Dunnhumby, Tesco and KPMG; Diageo said the timing is appropriate following the presentation of its new strategy. » More on finanzen.net

Diageo has named Joanne Wilson from WPP as its next CFO; she is due to join the board and executive committee during 2027 and will succeed Nik Jhangiani. WPP has launched a formal search to replace Wilson, who will remain in her role until her successor is appointed. Diageo said the change is timely following the unveiling of its new strategy; the stock fell as much as 0.76 percent in London trading to £16.26. » More on finanzen.net